Pakistan’s Exports Surge to $16.5 Billion, Recording 10.52% Growth
Pakistan’s export sector has shown significant growth, reaching $16.5 billion in the first half of the fiscal year 2024-25. This marks a notable 10.52% increase compared to $14.9 billion during the same period last year, according to official data.
The strong performance reflects the country’s resilience and the success of government-led initiatives aimed at enhancing external trade. The steady increase underscores a positive trajectory for Pakistan’s trade sector, driven by strategic measures to foster economic stability.
In December 2024 alone, exports stood at $2.841 billion, a slight 0.28% rise from the previous month, maintaining the sector’s upward momentum despite global economic challenges. During the July-November period, total exports reached $13.6 billion, reflecting an impressive 12.5% growth.
Key Drivers of Export Growth
Economic experts attribute the growth to government policies that have created a more favorable environment for trade, including incentives for exporters and the expansion of trade agreements. Enhanced trade facilities, improved logistical infrastructure, and streamlined export processes have also played a crucial role in bolstering the sector.
The government’s focus on improving the global competitiveness of Pakistani products aligns with broader economic goals to diversify the export base and strengthen the country’s position in international markets.
Record-Breaking Oilseed Exports
Pakistan’s agricultural exports have also reached new heights, with the country becoming the world’s third-largest oilseed exporter. Oilseed exports grew by an astonishing 366%, exceeding $1 billion annually. Domestic oilseed production surged by 455%, reaching 1.119 million tons, thanks to improved farming practices and robust governmental support.
Federal Minister for National Food Security, Rana Tanveer Hussain, highlighted the pivotal role of oilseed production in driving economic growth. He reaffirmed the government’s commitment to further boosting oilseed output through subsidies and technical assistance for farmers.
The expansion of oilseed exports signifies a major shift in Pakistan’s agricultural export profile. Experts predict that advancements in processing technologies will continue to elevate the quality and competitiveness of Pakistani oilseeds in international markets.
Bright Prospects for Trade and Investment
The ongoing export growth, particularly in the agricultural sector, is a crucial factor in stabilizing Pakistan’s foreign exchange reserves and reducing reliance on imports. The success of these export strategies also enhances Pakistan’s attractiveness to global investors, positioning the country as a competitive player in international trade.
With sustained growth strategies, technological innovation, and government-backed support, Pakistan is set to strengthen its export performance and maintain its upward economic trajectory.
